Sprouts farmers market, inc. (SFM)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jul'18Apr'18Dec'17Sep'17Jun'17Mar'17Jan'17Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Cash flows from operating activities
Net income

91,810

31,634

26,260

35,343

56,392

12,703

37,500

41,709

66,624

39,699

31,486

40,968

46,287

17,005

23,885

37,209

46,207

28,216

31,986

31,322

37,467

17,743

26,065

30,151

33,733

9,280

11,461

12,468

18,117

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense

31,600

31,258

31,335

30,138

30,073

28,790

28,130

26,940

26,889

26,112

24,733

23,520

22,622

20,726

21,184

19,981

18,832

18,504

17,849

16,963

15,853

19,776

14,515

13,045

13,026

12,357

12,221

11,575

11,064

Operating lease asset amortization

23,137

19,591

21,774

19,824

20,653

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Store closure costs and other credits

-

-

-

-

710

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of asset retirement obligation and closed store reserve

-

-

-

-

-

-

-

-

-

-

74

75

19

-

61

96

80

93

73

99

79

89

672

43

40

238

13

34

37

Amortization of financing fees and debt issuance costs

-

-

-

-

-

-

-

-

-

-

116

115

116

116

116

115

116

125

116

162

339

342

367

391

394

441

562

759

720

Loss on disposal of property and equipment

-

-

-

-

-

-

-

-

-

-

-464

-311

-45

-213

-169

-174

117

-255

-852

-133

-272

-49

-44

-267

-727

-12

-429

11

-19

Share-based compensation

2,400

2,048

2,710

1,741

2,450

2,839

3,043

4,662

3,968

3,896

4,086

3,793

2,446

3,077

3,997

3,669

2,656

3,242

2,342

1,292

1,142

1,161

1,199

1,588

1,407

1,495

1,620

1,616

1,049

Deferred income taxes

232

29

-10,936

4,474

6,217

-6,440

12,223

6,921

10,629

-15,442

5,206

9,161

8,878

544

6,529

6,180

7,410

12,426

1,535

-37

1,657

3,365

2,042

4,562

6,463

-9,343

9,004

3,136

10,934

Other non-cash items

768

-7,009

2,905

-62

30

-201

-381

-445

-455

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-12,652

-7,084

-8,600

-17,131

-3,247

-2,633

7,345

997

1,957

6,580

2,446

-3,893

-213

3,467

4,351

2,623

-5,638

-5,528

6,276

-7,021

11,895

-230

2,794

657

1,203

800

-71

1,119

-327

Inventories

-22,787

-9,736

16,252

11,596

-6,500

11,321

2,481

10,953

10,069

7,327

3,812

14,136

-196

9,246

6,053

16,612

7,119

3,645

3,610

9,426

5,960

2,689

5,449

13,201

3,198

3,492

5,622

6,843

3,918

Prepaid expenses and other current assets

8,652

-21,587

-7,265

8,900

744

-10,850

12,446

-823

2,135

-1,001

2,185

199

1,350

-2,631

4,546

1,213

-4,547

12,017

2,245

-6,318

4,098

4,744

3,907

-4,210

-1,314

-6,014

10,674

27

-949

Other assets

-656

513

311

-635

1,086

1,141

-2,800

5,675

1,070

-588

-1,748

2,423

27

-14,498

-3,481

85

4,876

37

-5,705

-158

6,307

-317

4,838

-50

686

239

4,038

152

-315

Accounts payable and other accrued liabilities

-

-

-

-

-

1,126

-7,139

-8,258

18,637

3,287

10,961

-6,551

31,547

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

80,669

-

-

-

-5,531

-

-

-

-

-

-

-

-

-

-718

9,190

15,578

-

2,114

-2,947

29,474

-11,815

-26,918

11,092

22,920

-7,812

11,425

2,864

25,519

Accrued liabilities

16,492

-

-

-

13,840

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued salaries and benefits

2,984

4,349

2,234

3,346

-9,634

5,169

5,024

4,841

-11,995

4,404

6,309

3,693

-1,642

7,101

-2,921

3,030

-5,068

7,281

1,443

-2,639

-5,055

4,026

2,515

1,490

-631

1,359

1,935

1,564

-3,968

Accrued income tax

28,906

-

-

-

10,510

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

-30,107

-35,793

-11,912

-19,665

-20,632

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other accrued liabilities and income taxes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,633

-12,500

5,105

-

1,709

-4,041

1,962

2,612

5,220

2,474

-1,880

5,358

4,978

-4,214

-725

Other long-term liabilities

2,274

2,591

1,572

-3,255

-330

9,389

4,668

6,163

4,511

209

2,346

3,126

5,187

4,523

2,631

3,382

8,958

2,325

4,558

2,997

13,154

-445

3,541

6,118

3,840

1,975

3,274

3,518

2,985

Cash flows from operating activities

277,072

31,898

74,127

136,580

112,605

58,913

64,358

66,621

104,487

50,598

79,086

65,346

114,537

58,314

48,097

49,993

97,947

60,807

58,151

52,856

68,084

29,917

13,412

61,623

76,266

17,882

46,157

33,125

63,424

Cash flows from investing activities
Purchases of property and equipment

28,036

36,752

53,066

63,272

30,142

28,651

44,497

59,777

44,158

40,165

40,706

60,548

57,205

38,447

57,490

51,081

34,000

27,923

22,849

40,786

33,755

30,966

38,306

39,553

18,240

12,686

23,101

24,247

27,429

Proceeds from sale of property and equipment

-

-

-

-

-

-

-

-

-

0

0

0

30

44

0

0

662

-

-

-

-

62

117

64

51

-

-

-

-

Purchase of leasehold interests

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

353

138

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

33

139

Cash flows used in investing activities

-28,036

-36,752

-53,066

-63,272

-30,142

-28,650

-44,497

-59,777

-44,158

-40,165

-40,706

-60,548

-57,175

-38,403

-57,490

-51,434

-33,476

-30,971

-22,802

-40,784

-33,755

-30,804

-38,189

-39,489

-18,189

-11,688

-23,101

-24,212

-27,290

Cash flows from financing activities
Proceeds from revolving credit facilities

-

78,000

64,545

33,126

89,734

53,000

40,000

100,000

40,000

19,000

49,000

25,000

60,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on revolving credit facilities

87,000

55,000

64,545

18,126

42,734

35,000

63,000

10,000

20,000

20,000

10,000

0

30,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on term loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

259,500

1,750

1,750

51,750

1,750

1,750

41,750

340,000

403,050

2,050

Payments on capital and financing lease obligations

154

154

211

139

186

1,168

1,214

1,096

1,039

1,139

985

975

1,093

1,220

1,014

1,052

1,078

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

176

155

161

159

182

113

131

77

92

123

120

Payments on financing lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

875

864

836

820

763

697

726

764

706

-40

1,438

Payments of deferred financing costs

-

-

-

-

-

0

0

0

2,131

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash from landlord related to capital and financing lease obligations

-

-

-

-

-

1,530

0

1,213

900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash from landlords related to financing lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

300

-

-

-

-

-

-

-

-

0

0

0

577

8,638

-3,176

102

-983

Repurchase of common stock

-

13,000

0

51,425

111,885

65,000

15,307

95,000

83,000

11,392

72,000

40,000

80,000

106,429

63,571

64,957

59,308

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

0

400

400

2,400

1,700

700

14,400

-177

6,877

2,660

708

3,640

2,292

124

563

120

1,933

199

148

2,793

3,425

3,462

2,819

4,220

566

-

-

0

75

Excess tax benefit for exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-211

261

124

3,563

425

296

7,089

12,199

12,220

8,827

11,431

14,783

-

-

-

-

Other

-

1

-1

0

-319

0

0

0

-59

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows used in financing activities

-87,154

10,242

153

-34,107

-63,729

-45,846

-25,204

-5,026

-58,452

-9,846

-34,302

-11,310

-48,501

-57,736

-18,761

-65,765

-54,890

-25,767

-607

-92,533

12,877

12,953

-41,049

13,091

13,319

-20,277

3,051

-44,080

-2,550

Increase in cash, cash equivalents, and restricted cash

161,882

5,388

21,214

39,201

18,734

-15,583

-5,343

1,818

1,877

587

4,078

-6,512

8,861

-37,825

-28,154

-67,206

9,581

4,069

34,742

-80,461

47,206

12,066

-65,826

35,225

71,396

-14,083

26,107

-35,167

33,584

Supplemental disclosure of cash flow information
Cash paid for interest

4,905

5,081

4,407

5,759

5,046

7,302

7,492

6,212

6,080

5,707

5,614

5,003

4,435

3,595

3,645

3,581

3,716

3,281

3,599

5,011

5,564

5,604

5,981

6,121

6,062

6,562

7,176

14,743

9,610

Cash paid for income taxes

-58

12,522

6,399

25,738

-22

-

-

-

-

-

-

-

-

-

-

-

-

5,581

16,017

18,809

249

4,268

3,451

530

1

0

84

1,142

50

Leased assets obtained in exchange for new operating lease liabilities

26,287

-

-

-

81,691

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash refunded for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

48

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosure of non-cash investing and financing activities
Property and equipment in accounts payable

13,999

119

-9,698

-523

28,617

-3,434

-12,524

2,891

25,068

4,393

-2,882

-19,680

36,038

3,309

-12,264

9,046

23,137

5,055

-1,521

-8,485

21,147

1,837

-9,813

175

21,794

1,541

-8,884

7,551

7,665

Property acquired through capital and financing lease obligations

-

-

-

-

-

170

1,459

2,433

5,019

18,370

-4,262

6,607

3,167

-3,992

3,669

2,911

1,744

-

-

-

-

25,027

3,367

1,369

4,377

-326

-83

4,829

6,240